| Source: The Singing Machine Company, Inc. The Singing Machine Company, Inc.
Fort Lauderdale, UNITED STATES
Introduces New SingCast Technology to Wirelessly Cast Karaoke Videos
Fort Lauderdale, FL, April 19, 2022 (GLOBE NEWSWIRE) — The Singing Machine Company, Inc. (“Singing Machine” or the “Company”) (OTCQX: SMDM) – the worldwide leader in consumer karaoke products today announced it is launching a new line of karaoke products in partnership with a major national U.S. retailer.
For the first time ever in a karaoke machine, the Company is introducing proprietary new SingCast technology which allows customers to wirelessly cast high-definition karaoke videos from a mobile device to the karaoke machine to display the lyrics on a connected TV. The SingCast technology is specifically designed to integrate with the Company’s iOS and Android Apps for access to its digital subscription karaoke content catalog.
Starting this spring 2022, these new products will be available for sale at the world’s largest retailer, in its flagship consumer electronics department, and will be available nationwide. The Company believes the combination of wide distribution, a value-oriented price point, and a compelling digital content offering should accelerate its subscription content adoption rate in the coming months as consumers recognize the value of this exciting new product offering.
Gary Atkinson, CEO of Singing Machine commented, “Our SingCast technology represents a significant milestone in our new strategy to become a technology-driven, subscription-based karaoke company. The ability to deliver high-quality proprietary video content with karaoke lyrics embedded in the video is unique in our industry. For years, our App experience was limited to singing lyrics off a hand-held device. Today, our SingCast technology expands the home karaoke experience, enabling an interactive karaoke experience that caters to what our customers want. Just as importantly, to access this desirable functionality, consumer will need to download our latest Singing Machine app which should improve adoption onto the subscription platform.”
This product launch represents several key developments in the Company’s product strategy – it expands the Company’s distribution on new technology karaoke products, grows the app-integrated karaoke experience, and drive higher adoption rate of the subscription content business.
About The Singing Machine
Singing Machine® is the leading provider of karaoke products to consumers across the world. The Company offers the industry’s widest line of at-home and in-car karaoke entertainment products, which allow consumers to find a machine that suits their needs and skill level. The Company’s products are sold in over 25,000 locations worldwide, including at well-known retailers such as Amazon, Costco, Sam’s Club, Target, and Walmart. As the most recognized brand in karaoke, Singing Machine products incorporate the latest technology and provide access to over 100,000 songs for streaming through its mobile app and select WiFi-capable products. To learn more, go to www.singingmachine.com.
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This press release contains forward–looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward–looking statements are based on current expectations, estimates and projections about the Company’s business based, in part, on assumptions made by management and include, but are not limited to statements about our financial statements for the fiscal year ended March 31, 2021. You should review our risk factors in our SEC filings which are incorporated herein by reference. Such forward–looking statements speak only as of the date on which they are made and the company does not undertake any obligation to update any forward–looking statement to reflect events or circumstances after the date of this release.